SG Americas Securities LLC Buys 7,248 Shares of Shopify Inc. (NYSE:SHOP)

SG Americas Securities LLC lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,100 shares of the software maker’s stock after purchasing an additional 7,248 shares during the quarter. SG Americas Securities LLC’s holdings in Shopify were worth $6,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Park Place Capital Corp purchased a new stake in shares of Shopify in the fourth quarter valued at $214,000. Magnus Financial Group LLC bought a new stake in Shopify during the 4th quarter valued at $243,000. Genesis Private Wealth LLC bought a new position in Shopify during the 4th quarter worth about $232,000. Sheets Smith Wealth Management bought a new position in shares of Shopify during the fourth quarter valued at approximately $447,000. Finally, Atomi Financial Group Inc. raised its position in shares of Shopify by 36.4% in the 4th quarter. Atomi Financial Group Inc. now owns 21,211 shares of the software maker’s stock worth $2,255,000 after acquiring an additional 5,656 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 1.5 %

Shares of Shopify stock opened at $107.74 on Friday. The business has a 50 day moving average price of $109.38 and a 200 day moving average price of $86.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market capitalization of $139.22 billion, a P/E ratio of 100.70, a P/E/G ratio of 2.24 and a beta of 2.46. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $120.72.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent analyst reports. Moffett Nathanson upped their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp lifted their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.31.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.